"So who's really fixed this fight?"
RMIL management certainly is responsible. The company's policy regarding issueing false and misleading press releases, creates problems that the shareholders end up paying for.
The SEC is protecting the innocent investor, and allowing the shareholders to learn more about their company, while giving the company an opportunity to respond to questions and submit the financials which have been reported to be near completion.
I do not believe the financials are near completion, that only a draft has been completed, and because of a lack of funds, has gone no further.
When I spoke to the company, I was advised that they would have to pay
$80,000 for the accountants to do the audit. They have not done so as of the 23rd. That implies the financials are far from completed by an independent source. The lack of money has hurt the company.
The company must square away the false press releases, I do not know what is required, but because of the significant amount, it will require more than an apology.
Funding at this time continues to be an unknown. When the company issued the 12/24/97 funds transfered into their account release, I posted to the date because of early bank closings. It sent me a signal
of concern. Without comment today, it has heightened. The shareholders are awaiting word, and if it had in fact transfered, they should have advised for your own piece of mind.
But what troubles me most right now is my conversation with Lorie.
I believe Lorie to be a good honest person who repeats as accurately as she can the information provided her.
I did not post this earlier, because I did not wish to add additional stress prior to Christmas. With the halt, information could be held for the two days.
I asked Lorie about the garment business. I asked her where the clothes were sold. She advised me she did not know. I asked how the garment business was doing, and she said she did not know. She then asked me if I was aware I had called the Fort Lauderdale office?
I asked why? Lorie responded because the company sales, orders, and manufacturing are all taken care of at RMIL's Hialeah plant.
Lorie only started 6 weeks ago she advised me. She has been told that the company is operating in Hialeah. One can assume Roland or Gary are training her. The company does not operate in Hialeah.
Lorie believes the company she works for does indeed produce and sell garments out of its factory in Hialeah...
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